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The Internal Revenue Service's Criminal Investigation Division initiated 19 percent fewer investigations and recommended nearly 900 fewer prosecutions in fiscal year 2014 than in the previous year, the agency said in a report Tuesday.
Several Treasury Department agencies tasked with fighting money laundering and other financial crimes would see modest budget increases in a White House plan disclosed Monday.
The Internal Revenue Service will no longer move to quickly seize funds linked solely in suspicious activity reports to potential structuring of legally derived money, an agency leader said Sunday.
ACAMS moneylaundering.com spoke with the co-head of the United Kingdom's Serious Fraud Office's bribery and corruption unit, Ben Morgan, about his hopes of securing the U.K.'s first deferred prosecution agreement with a corporate.
The U.S. Treasury Department's budget would see a four percent increase over last year's funding under a White House proposal scheduled to take effect in October.
